Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Solana DEX aggregator Jupiter unveils next launchpad token candidates

Solana DEX aggregator Jupiter unveils next launchpad token candidates

The BlockThe Block2024/02/08 15:29
By:The Block

Quick Take Solana DEX aggregator Jupiter unveiled three launchpad token candidates following the airdrop of its native JUP token last week. Liquid staking service Sanctum, NFT collateralization platform Sharky and cross-chain protocol deBridge were put forward as candidates.

Solana DEX aggregator Jupiter unveils next launchpad token candidates image 0

Solana DEX aggregator Jupiter JUP -5.11% put forward three “OG” Solana projects to potentially become the next tokens to launch on its new LFG launchpad.

Jupiter launched its own native governance token, JUP, via the launchpad last week, coinciding with an airdrop to nearly one million wallets on Solana. Independent Solana-based memecoin WEN was the first token launch to test the LFG launchpad last month.

Liquid staking service Sanctum, NFT collateralization platform Sharky and cross-chain interoperability protocol deBridge were highlighted as the next potential LFG candidates in a post by Jupiter’s pseudonymous founder Meow yesterday, inviting them to share their plans.

Despite appearing to have picked these projects, Meow emphasized that LFG is a community initiative and the Jupiter team should play no role in selecting the tokens suitable for launch. That will be decided by a community governance vote.

“Over the next two weeks, we will be introducing these projects to the community via a variety of channels, including a townhall, a special channel for each project and X summaries as well,” Meow said. Other projects will also be able to apply.

Alongside further product updates, Jupiter intends to initiate the Jupiter DAO with operational funds and participation incentives this month. The DAO will initially focus on evaluating and approving the launchpad projects, approving grants and releasing budgets for ongoing community and ecosystem initiatives. All launchpad fees earned from its JUP token launch — some 100 million JUP worth $54 million — will be allocated to governance participants over the first year as an incentive, Meow said.

Closing the Jupiter token launch pool

JUP's launch did not pass without its controversy. Some users complained about the token launch pool being used by the team to sell tokens to the public. Responding at the time, Meow said it was transparent about the mechanics of the launch pool.

Yesterday, Meow confirmed that the pool was being closed as planned, seven days after the launch, with its 96 million JUP tokens ($52 million) removed to a cold multisig wallet and nearly 70 million USDC to be removed in $10 million batches over the next few months.

The launch pool was designed to stabilize volatile price swings and enable airdrop recipients and early buyers to sell into the pool if they chose to. “However, this pool is not good for price discovery, due to the buy and sell walls on both sides,” Meow said, adding its closure will allow JUP to regain price discovery.

JUP is currently trading at $0.54, according to The Block's data dashboard.

JUP/USD price chart. Image: The Block/TradingView .


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

GHO HodlerYield promotion rules

Bitget Announcement2025/08/07 10:30

New spot margin trading pair — TOWNS/USDT!

Bitget Announcement2025/08/07 09:07